Use PineDAO treasury to create lending pool for new NFT collection – Dark Echelon

Voting ended over 3 years agoSucceeded

Title: Use PineDAO treasury to create lending pool for new NFT collection – Dark Echelon Status: WIP Author: mrmrnft Created: 29/07/2022

Simple Summary

Due to popular demand from the Pine community, there are numerous requests to create a lending pool for the Dark Echelon NFT collection (https://opensea.io/collection/darkechelon). On the other hand, there are unutilized funds in the fee treasury. It is suggested that we utilize these funds to create a lending pool.

Abstract

Pine is a NFT collateral crypto lending and borrowing protocol and platform. Due to the fast-moving nature of the NFT market, there is a need to constantly update the Pine platform with popular NFT collection availability in order to facilitate NFT collateral crypto lending and borrowing activities for the Pine community. Recently there have been numerous requests from the various Pine community channels requesting for the availability of crypto loans based on the Dark Echelon NFT collection. Therefore, PineDAO is proposing to create such a lending pool to support the specific NFT collection for the community members. On the other hand, there are unutilized funds in the fee treasury. It is suggested that we utilize these funds to create a lending pool.

Proposal details

NFT Collection Title: Dark Echelon
Lending Pool Value: 4.68 ETH In terms of value to be injected into the lending pool for the specific NFT collection, it is proposed to utilize funds from the PineDAO treasury (currently 4.68 Eth at the time of writing this proposal, hence this would amount to 4.68 Eth). Given there is high volume of demand, and such initial volume of funds is proven to be insufficient, further voting proposals of more funds to be injected into the specific lending pool will be triggered.
Loan-to-value ratio: 35% Loan-to-value ratio of the lending pool determines risk level of price volatility and liquidity availability of the specific NFT collection.
Loan duration: 14 days Loan duration on the Pine platform is typically 7 days, 14 days, or 30 days.

Voting

NFT Collection:

For the collection – Agree on creating a lending pool for the NFT collection with the aforementioned parameters
Against the collection – Disagree on creating a lending pool for the NFT collection with the aforementioned parameters
Abstain the collection – Elect not to vote on the proposal

Off-Chain Vote

For

9 PPG175%

Against

1 PPG18.3%

Abstain

2 PPG116.7%

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Discussion

Use PineDAO treasury to create lending pool for new NFT collection – Dark Echelon

Timeline

Aug 04, 2022Proposal created

Aug 05, 2022Proposal vote started

Aug 12, 2022Proposal vote ended

Oct 26, 2023Proposal updated

Simple Summary

Abstract

Proposal details

NFT Collection Title: Dark Echelon

Lending Pool Value: 4.68 ETH In terms of value to be injected into the lending pool for the specific NFT collection, it is proposed to utilize funds from the PineDAO treasury (currently 4.68 Eth at the time of writing this proposal, hence this would amount to 4.68 Eth). Given there is high volume of demand, and such initial volume of funds is proven to be insufficient, further voting proposals of more funds to be injected into the specific lending pool will be triggered.

Loan-to-value ratio: 35% Loan-to-value ratio of the lending pool determines risk level of price volatility and liquidity availability of the specific NFT collection.

Loan duration: 14 days Loan duration on the Pine platform is typically 7 days, 14 days, or 30 days.

Voting

NFT Collection:

For the collection – Agree on creating a lending pool for the NFT collection with the aforementioned parameters

Against the collection – Disagree on creating a lending pool for the NFT collection with the aforementioned parameters

Abstain the collection – Elect not to vote on the proposal